The Nepal Oil Corporation (NOC) Thursday warned that the supply of fuel in Nepal will come to a complete halt within a few days.
At a press conference in the capital, Director General of NOC Digambar Jha said the demand of petroleum products has risen by 40percent by now whereas the supply has not been compatible with the demand.
"The price of oil in the international market has reached 130 U.S. dollars per barrel but we are maintaining the price ratio we had set five years ago when the price per barrel was 83 dollars," he added.
If the government neglects this big problem, the country may face a grave crisis of petroleum products, he warned, explaining that financial institutions were wary of providing loans to the NOC as it already owed over 14 billion Nepali rupees (about 2 billion dollars) to them.
Without reviewing the fuel prices, the problem will simply worsen, he said, adding that the present stock of the corporation will run out in a week.
Source:Xinhua
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